Bonus-Malus Systems in Automobile Insurance pp 155-181 | Cite as
Construction of an Optimal System. Expected Value Principle
Chapter
Abstract
In Part 3, Bayesian analysis is applied to design optimal bonus-malus systems using the different models for claim number distributions presented in chapter 3. The decision problem is formulated in a game-theoretic framework. Several loss functions and premium calculation principles are applied to calculate optimal BMS.
Keywords
Optimal System Transition Rule Negative Binomial Model Claim History Claim Frequency
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Copyright information
© Springer Science+Business Media New York 1995